International Business Systems (IBS) has acquired all shares of Australian software developer TMS. TMS provides a niche supply chain solution for the publishing and consumer electronics industries.
The company has 60 employees in Sydney, Singapore and the UK and a network of business partners in the US, Netherlands and South Africa. During 2003/2004, TMS reported full year revenue of $11.5 million and pre tax profits of $1.5 million.
IBS will pay $12.7 million in cash to complete the acquisition of all TMS shares, which are owned by TMS' management, and employees who will continue working in the company.
The expanded IBS operations in Australia will have more than 100 employees.
The acquisition of TMS establishes IBS as an international leader in the market for supply chain software solutions for the publishing industry and extends IBS´ operations and market share in Australia.
IBS CEO and president Magnus Wastenson said the acquisition of TMS was in line with IBS' strategy to specialise in supply chain management solutions within selected markets where IBS was an international market leader or had the potential to become the leader.
"By acquiring TMS, we gain substantial increase in market share in Australia and establish a leading position as a business software supplier to the publishing industry," he added.
TMS' publishing solution, Bookmaster, is already used by more than 80 publishers in 16 countries and is the most widely used publishing ERP in the world. TMS' customers include major publishers such as Penguin, Pearson, HarperCollins, McGraw-Hill, Macmillan, Elsevier and Harvard University Press, as well as international consumer electronic distributors including Hagemeyer, Pioneer, Makita and Sanyo.